CMS announces average Medicare Advantage, Part D premiums for 2020

The Centers for Medicare & Medicaid Services today released premium and cost-sharing information for Medicare Advantage and Part D prescription drug plans for the 2020 calendar year. The average MA premium will decrease by $3.87 (14%) to $23, while the average monthly premium for a basic Medicare Part D prescription drug plan will decrease by $2.50 to $30, the agency estimates. The average number of MA plan choices per county will increase by six to 39, CMS said. It projects MA enrollment will climb by 2.2 million in 2020 to a record 24.4 million. Open enrollment for 2020 Medicare health and drug plans begins Oct. 15.